Use of Security Deposit. The security deposit shall be used only as a credit toward these charges: any unpaid bills which become a lien against the Premises due to NPO's occupancy, damage to the Premises, nonfulfillment of the rental period, costs of re-renting the Premises after breach by the NPOs, costs of removal and storage of property of any of the NPOs after a summary ejectment proceeding, court costs (including to the extent allowed by law, reasonable attorney's fees) in connection with terminating a tenancy, and to the extent allowed by law, all other losses attributable to any breach of any provision of this lease by the NPO. When NPO vacates the Premises, if it is not reasonably clean, the NPO shall be charged to clean it, and the security deposit may be applied to this charge. If the security deposit is insufficient to pay any of the charges referred to in this section, the NPO shall be liable for such excess. No part of the security deposit may be retained by the Landlord for normal wear and tear. On termination of the tenancy, the deposit, except any amounts properly retained by the Landlord, shall be refunded to the NPO with an itemized statement of the amounts withheld, within 30 days after termination of the tenancy and delivery of possession by the NPO.
Use of Security Deposit. The Security Deposit shall be held by Landlord as security for the faithful performance and observance by Tenant of the terms, provisions and conditions of this Lease. Landlord may use, apply or retain all or any portion of the Security Deposit for the payment of any past due rent or for the payment of any other sum to which Landlord may become entitled under this Lease or by law by reason of Tenant’s default or to compensate Landlord for any direct loss or damage which Landlord may suffer including, without limitation, the cost of replacing or repairing any equipment damaged or removed from the Premises and the cost of repairing any damage to the Premises or the Building. Tenant shall have no right to apply the Security Deposit or any portion thereof to any rent hereunder, but the Security Deposit may be so applied, at Landlord’s option, from time to time. If Landlord so uses or applies all or any portion of the Security Deposit, Tenant shall within ten (10) days after written demand therefor, deposit cash with Landlord in the amount sufficient to restore the Security Deposit to the full amount of the Security Deposit and Tenant’s failure to do so shall be a Default under this Lease. Landlord’s application of any portion of the Security Deposit shall not cure any Default hereunder and Landlord shall be free to exercise such other rights and remedies as provided hereunder, at law or in equity. Provided Tenant is not in default of its obligations under this Lease and there are no damages to the Premises or the remainder of the Property caused by Tenant or its employees, agents or contractors, the Security Deposit (or so much thereof as has not theretofore been applied by Landlord or returned to Tenant), shall be returned to Tenant within forty-five (45) days after the expiration of the Term and after Tenant has vacated the Premises. Upon written request made by Tenant to Landlord sent after the expiration of the first twelve (12) full calendar months for which Tenant is obligated to pay Basic Monthly Rent hereunder, the Tenant shall be entitled to the return of Ten Thousand Two Hundred Ninety-Four Dollars and 88/100 ($10,294.88) out of the Security Deposit; provided however, that if Tenant is or is then in monetary default (no notice required) or non-monetary Default (after notice and cure period), or during the Term has been in monetary Default (if applicable, after notice and cure period) for more than twenty (20) consecutive days, as of the date of Landl...
Use of Security Deposit. (a) We may use your security deposit and interest which has accrued to it to offset any amount owed by you to us, if you:
Use of Security Deposit. CommsChoice must hold the Security Deposit as security for the payment of any sums due under this Agreement. If you fail to pay any amount due on the due date for payment, CommsChoice may immediately deduct that amount from the Security Deposit is set-off of your payment obligation.
Use of Security Deposit. Landlord may (but shall not be required to) use the Security Deposit or any portion thereof to cure any defaults on the part of Tenant or to compensate Landlord for any damage or costs Landlord incurs by reason of an Event of Default hereunder. In such event, and upon written notice from Landlord to Tenant specifying the amount of the Security Deposit so utilized by Landlord and the purpose for which such amount was applied, Tenant shall immediately deposit with Landlord an amount sufficient to return the Security Deposit to the original amount. Tenant acknowledges that any use of the Security Deposit shall not constitute a bar or defense to any of Landlord's remedies under this Lease, at law or in equity. Within forty-five (45) days after expiration of the Term or earlier termination of this Lease, provided no Event of Default is then outstanding, the Security Deposit shall be returned to Tenant, reduced by those amounts that may be required by Landlord to remedy defaults on the part of Tenant in the payment of Rent or otherwise, to repair damages to the Premises caused by Tenant and to restore the Premises to the condition required by this Lease. Landlord shall have no obligation to segregate the Security Deposit from its general funds or to pay interest thereon. If Landlord conveys or transfers its interest in the Premises, and as a part of such conveyance or transfer, assigns its interest in this Lease, then Landlord shall be released and discharged from any further liability to Tenant with respect to the Security Deposit.
Use of Security Deposit. Comms Group must hold the Security Deposit as security for the payment of any sums due under this Agreement. If you fail to pay any amount due on the due date for payment, Comms Group may immediately deduct amounts owed from the Security Deposit as set-off of your payment obligation.
Use of Security Deposit. If Tenant breaches or fails to perform any of Tenant’s obligations under this Lease, Landlord shall have the right, but not the obligation, to use or retain all or any part of the Security Deposit to cure the breach or failure of performance, and to compensate Landlord for any damages sustained by Landlord, including but not limited to payment of: (a) delinquent Rent; (b) interest on delinquent Rent; (c) late charges on delinquent Rent; (d) the cost of performing any of Tenant’s obligations under this Lease; (e) the cost of repairing damages to the Premises or Center; (f) the cost of cleaning, maintaining, repairing, restoring or reletting the Premises; (g) attorney’s and accountants’ fees and disbursements and court costs; (h) brokerage commissions and finders’ fees; and, (i) interest on any and all of the above at the maximum lawful rate (“Remedy Rate”) from the date due until paid; provided, however, that retention of all or any part of the Security Deposit shall not affect Tenant’s obligations under this Lease or Landlord’s other rights and remedies provided at law, in equity, or under this Lease; and provided, further, that in the event that Landlord’s elects to apply the Security Deposit or any portion thereof as herein provided, such application and the amounts applied to particular items of cure and/or compensation shall be determined by Landlord in Landlord’s sole and absolute discretion. If any portion of the Security Deposit is used as provided for in this Section, then within five (5) days after written demand by Landlord, Tenant shall deposit with Landlord sufficient cash to restore the Security Deposit to its original amount. Tenant’s failure to timely restore the Security Deposit shall be a default under this Lease.
Use of Security Deposit. If damages are assessed, the Venue will deduct the repair or replacement costs from the security deposit. - If cleaning is necessary, a $100 labor cost will be deducted from the security deposit. - If the repair or replacement costs exceed the security deposit amount, the Client agrees to cover the remaining balance within 30 days after receiving the itemized list of damages.
Use of Security Deposit. If a Default occurs with respect to the payment of Rent or any other covenant contained herein, Landlord may use or retain all or any part of the Security Deposit for the payment of any Monthly Rent, Additional Rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant’s Default. Landlord also may apply the Security Deposit toward costs incurred to repair damages to the Premises or to clean the Premises upon termination of this Lease. If any portion of the Security Deposit is so applied or used prior to the termination of this Lease, Tenant shall, within fourteen (14) days after written notice thereof, deposit an additional amount with Landlord sufficient to restore the Security Deposit to the amount set forth above, and Tenant’s failure to do so shall constitute a material breach of this Lease. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by Tenant, the Security Deposit (including interest thereon), or the balance thereof, shall be returned to Tenant (or, at Landlord’s option to the last assignee of Tenant’s interest hereunder) at the expiration of the Lease, subject to the provisions of Paragraph 27.
Use of Security Deposit. If Tenant defaults with respect to the payment of Monthly Rent or any other covenant contained herein, Landlord may use or retain all or any part of the Security Deposit for the payment of any Monthly Rent or any other sum in default, or for the payment of any amount which Landlord may spend or become obligated to spend by reason of Tenant's default Landlord may also apply the Security Deposit toward costs incurred to repair damages to the Premises or to clean the Premises upon termination of this Lease. If any portion of the Security Deposit is so applied or used, Tenant shall, within ten (10) business days after written notice thereof, deposit an additional amount with Landlord sufficient to restore the Security Deposit to the amount set forth above, and Tenant's failure to do so shall constitute a default of this Lease.
